(a) Horizontally analyze the financial data in Exercise 17-9. (b) Calculate how many days it took Sigmon Inc. to collect its recieivables (i.e. Sigmon's average collection period) in 20Y3. Show your work. Label key numbers used in calculations. Summarize your findings.

EX 17-9 Accounts receivable analysis The following data are taken from the fina sales are 2/10, n/45. OBJ.3 ncial statements of Sigmon Inc. Terms of all 20Y2 20Y3 20Y1 725,000 650,000 600,000 4,687,500 Accounts receivable, end of year Sales on account 5,637,500